However, the behaviour of consumer depends on some factors. There are number of factors in the study of consumer behaviour which plays important role in buying of any new product or services from the selling firm such as customer income, culture, technology, various types of personal factors.
The responsibilities of the board of directors includes the establishment of the audit and compensation committees. The audit committee is responsible for ensuring that the company's financial statements and reports are accurate and use fair and reasonable estimates.
The audit committee's role includes the oversight of financial reporting, the monitoring of accounting policies, the oversight of any external auditors, regulatory compliance, and the discussion of risk management policies with management. RELATED TERMS.ll U.S. publicly-traded companies must maintain a qualified audit committee in order to be listed on a stock exchange. Committee members must be made up of independent outside directors, including a minimum of one person who qualifies as a financial expert.